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IndiGo Q4 reports five-fold jump to Rs 589 cr, sees opportunities ahead

The low-cost carrier said that its annual net profit for 2018-19 stood at Rs 156.1 crore, which was 93 per cent less than Rs 2,242.4 crore for the 2017-18 fiscal

Press Trust of India  |  New Delhi 

IndiGo puts tech start-ups at the heart of its plan to become global player

InterGlobe Aviation, the parent company of airline, Monday reported a five-fold jump in profit after tax to Rs 589.6 crore for the January-March quarter compared to Rs 117.6 crore in the corresponding period of 2017-18?.

The carrier's total income rose by 35.5 per cent to Rs 8,259.8 crore in the quarter ended March 2019 compared to Rs 6,097.7 crore in the year-ago period, the company said in a statement.

The low-cost carrier said that its annual net profit for 2018-19 stood at Rs 156.1 crore, which was 93 per cent less than Rs 2,242.4 crore for the 2017-18 fiscal.

said, "Fiscal 2019 was a tough year for the in India because of high fuel prices, weak rupee and intense competitive environment."

"However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery," he added.

Dutta added that he is bullish about the future and sees plenty of opportunities for profitable growth in IndiGo's network.

The total debt as of March 31, 2019, was Rs 2,429.2 crore, which was "aircraft related", said the airline.

First Published: Mon, May 27 2019. 16:50 IST
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